German retailer raises €20m through funding round

German-based online international furniture retailer Home24 has raised €20m through a funding round.

Included within the round was Edinburgh-based investment group Baillie Gifford, Rocket Internet, Swedish-based investment firm Kinnevik and other participating shareholders.

Rocket Internet invested €1.4m, and saw its stake in the Berlin-headquartered firm reduce from 44.6% to 42.9%.

Philipp Kreibohm, founder and CEO of Home24 AG, commented: “We continue to invest heavily in an improved customer experience and drive the development our logistics networks and technology platform ahead.

“We work more closely with our suppliers and partners to a high quality provision for to guarantee our customers. Our goal is a sustainable and profitable build company that permanently shapes the device market and the purchase of furniture for customers substantially improved.